PDD (NASDAQ:PDD) Shares Up 3.9%

PDD Holdings Inc. (NASDAQ:PDD) traded up 3.9% during trading on Monday . The stock traded as high as $119.82 and last traded at $117.88. 4,538,336 shares traded hands during trading, a decline of 45% from the average session volume of 8,197,584 shares. The stock had previously closed at $113.49.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. dropped their target price on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Benchmark boosted their target price on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup boosted their target price on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Barclays boosted their target price on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Stock Performance

The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The company has a market cap of $168.93 billion, a P/E ratio of 22.34, a P/E/G ratio of 0.32 and a beta of 0.67. The business has a fifty day moving average of $122.14 and a 200 day moving average of $126.40.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, equities analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current year.

Institutional Investors Weigh In On PDD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. SRS Capital Advisors Inc. lifted its holdings in shares of PDD by 294.4% during the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in PDD in the first quarter valued at about $29,000. Turim 21 Investimentos Ltda. bought a new position in PDD in the third quarter valued at about $55,000. Gordian Capital Singapore Pte Ltd bought a new position in PDD in the fourth quarter valued at about $59,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.